Crypto Funds Attract Record $20.3 Billion in Inflows Over 10 Weeks

Crypto exchange-traded products (ETPs) have attracted $20.3 billion in inflows over the past 10 weeks, accounting for around 45% of all inflows in 2024.

Digital asset investment products continue to draw sustained inflows, with $3.2 billion recorded last week alone, according to data from CoinShares. This marks the 10th consecutive week of positive flows, pushing the total inflows for this year to $44.5 billion. This is a 1,878% increase from 2023, which had total inflows of $2.25 billion.

This surge highlights growing interest in digital asset products as cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) gain wider acceptance in traditional financial markets.

BTC and ETH lead the pack

BTC investment products recorded $2 billion in inflows last week and $11.5 billion since the U.S. presidential election. For the year, BTC products have accumulated a total of $38.5 billion in inflows, up 3,100% from the $1.2 billion total in 2023. CoinShares highlighted that BTC is highly liquid on reputable exchanges, averaging $8.3 billion in daily trading volumes this year. This figure is double the daily trading volume of the FTSE 100.

ETH is also gaining momentum, marking its seventh consecutive week of inflows totaling $1 billion for the week. Over these seven weeks, ETH inflows reached $3.7 billion, with year-to-date inflows standing at $4.4 billion. This marks a 5,541% increase from its 2023 total of $78 million.

Other assets like Solana and XRP also contributed to the surge, recording $1.7 million and $145.8 million in inflows last week, respectively.

While most digital assets saw positive inflows last week, multi-asset funds faced outflows of $31 million, bringing their current YTD flows to $403 million. In 2023, multi-asset funds recorded a total of $18 million in outflows.

Bitcoin Soars Above $100,000

The acceleration in inflows comes after BTC surpassed $100,000 roughly two weeks ago.

At the time of publishing, the cryptocurrency trades at $106,700. Experts say this rally has acted as a major catalyst for the increase in inflows into digital asset products.

Additionally, Donald Trump’s U.S. presidential election win further fueled optimism in the market. Investors anticipate that Trump’s administration will bring favorable regulatory changes for cryptocurrencies, boosting demand for digital asset-backed products.